Development will also feature an office complex and elevated park.
Metrolinx and real estate company Ivanhoé Cambridge today unveiled plans for a new downtown development: the proposal involves an office complex at 45-141 Bay Street, a larger GO bus terminal, and an elevated park above the rail corridor.
The GO bus station is currently located on the north side of the rail corridor, but will moving south now that Metrolinx has sold its property at 141 Bay Street to Ivanhoé Cambridge and will be receiving a long-term lease for space in the base of the planned office tower at 45 Bay Street.
The new elevated “Skypark” will link the fourth floors of two new 48-storey office buildings constructed on the north and south sides of the rail corridors, and connect to Union Station. Additional design details are not yet available, but the midair green space is expected to boast a restaurant.
Construction is projected to begin in spring 2015—the new GO terminal would be open for business about three years later, and the first office tower would be ready in the months following.